HomeBusiness Products & Services

Lessons Learned from Years with Businesses

Like Tweet Pin it Share Share Email

Small Business Opportunities: How to Bid on Government Contracts

Many of us think that government contracts are only suited for large corporations, but this is not the case. Even small businesses can engage and win government contracts on a regular basis. With the proper preparation, even if federal government contracts are often subject to a specific process unlike local government entities, you can still be successful. You may want to access small business administration guide to assist you adhere with the policies and procedures you must know when bidding on government contracts. It is highly advisable to consult your federal procurement office or organizations that include your local or regional Chamber of Commerce or nearby university or college offering seminars, online classes, tutorials and other means to guide you through the bidding process.

You can set up a SAM profile or System for Award Management profile which acts as a master list of all kinds of businesses that wish to work for the federal government. It is important to indicate on you SAM profile all of your capabilities, skills and special equipment that you can take into account to the job you’re bidding on. Your experience as a business is essential to win a bid especially if you are able to relate it to the contract. Stability and sound financial status are highly considered by the government, that are determining factors where your business is heading to. You also need to get a DUNS number for your business, which refers to your business physical address, and you can apply for a number which is free online. SAM registration is absolutely free, and your profile is posted within 72 hours after you are finished completing your profile.

Invitations For Bid or IFB can be checked on the website of Federal Business Opportunities government website. Invitations For Bids shows the details of the contract. It is also good evaluating your company and how it can match up with the job offer indicated in an IFB. Accept the challenge and be confident that you can complete the job and do it excellently before bidding. Bear in mind that if you fail to finish or complete a government contract that has been awarded to you, it will likely be your last project with the government. Follow the policies and guidelines of writing a bid, and it helps utilizing your local procurement office, small business administration, consulting firms and other helpful resources. It really helpful researching past bids which are public record, and ensure that your bid is low yet realistic. Your chances of winning a government contract increases by using helpful data analysis tools and techniques.

Recommended reference: pop over to this website